New World Development is close to selling the Central commercial land for about 1 billion Hong Kong dollars.

The Hong Kong Economic Daily quoted an unnamed source as reporting that New World Development is in deep negotiations over the sale of a commercial site in Central, planning to sell it for 1 billion Hong Kong dollars. The property is located on Pottinger Street 9-19, with an area of approximately 4,450 square feet and can be rebuilt into a commercial floor area of about 66,000 square feet. The project was originally developed by New World Development themselves. It has recently received an offer from a consortium for purchase.